Financial advisory firm Loring Ward International Ltd. today announced that it has agreed to be acquired by Werba Reinhard, Inc. for US$18 a share.

Werba Reinhard is controlled by Loring Ward’s largest shareholder, Eli Reinhard, and Alan Werba, one of Loring Ward’s largest investment advisor clients

Under the agreement, an affiliate of Werba Reinhard will acquire all of Loring WardH’s outstanding shares at a price of US$18 in cash payable in U.S. dollars. The price is currently equivalent to approximately $18.47 (Canadian), which represents a premium of approximately 57.9% to the price on February 13, 2008, the day prior to the initial announcement of an unsolicited offer for Loring Ward.

The price agreed to with Werba Reinhard exceeds the US$17.35 per share offer previously agreed to with Friedman Fleischer & Lowe LLC, which declined to match Werba Reinhard’s proposed price.

Loring Ward has received an opinion from its financial advisor, BMO Capital Markets, that the offer is fair from a financial point of view to shareholders.

David Rattee, the chairman of the board and of the special committee of independent directors who evaluated the offer and led the auction process, said “We are unanimously recommending that shareholders approve this transaction. We are very pleased with the outcome for our shareholders.”

The plan of arrangement is subject to certain conditions, including, among others, minimum asset levels at the time of closing and required court and shareholder approvals.

A new special meeting date is expected to be called in the near future, and a new management proxy circular is expected to be mailed to shareholders in connection therewith. Loring Ward also is seeking court approval to delay its annual general meeting until no later than November 14.

New York-based Loring Ward, which has about 80 employees and was formerly part of the Winnipeg-based Assante wealth management group, now owned by CI Financial.